Selling a Car: What Should Families Keep in Mind?
When it comes to selling a car, there are a few important things that sellers should consider in order to ensure a smooth and profitable transaction.
Preparing the Necessary Documents
Before deciding to sell a car, it is crucial to gather all the relevant paperwork to ensure a legal and hassle-free transaction. Firstly, sellers should check whether the vehicle registration is still valid. If it is close to expiration, it is important to renew it before selling to avoid any complications.
Additionally, sellers should have the technical inspection certification and car insurance documents. These papers are essential as they prove the safety and reliability of the vehicle.
Advertising and Reaching Potential Buyers
Advertising and reaching potential buyers are crucial factors in a successful car sale. To attract customers, advertisements should be creative and eye-catching.
When creating the ad, it is important to provide detailed and accurate information about the car to help potential buyers make a quick decision.
Source: Business Today
Checking the Maintenance History
Car owners should check the car’s maintenance history, keeping track of the number of times it has been serviced and keeping the receipts as a basis for negotiating the price.
Inspecting the Body and Chassis
All the gaps between the vehicle’s body panels should be consistent. Any unusual misalignment could indicate that the car has been involved in an accident. It is also important to check whether the paint color is consistent across the body panels.
Checking the Wheels and Tires
When selling a car, owners should pay attention to the condition of the wheels, ensuring that they are not cracked or bent. The tire tread depth should be at least 1.6mm to comply with road safety regulations. If the tires do not meet this requirement, they should be replaced. Additionally, the tires should not have any cuts, bulges, or uneven wear patterns.
In addition to these points, owners should thoroughly inspect other aspects of the car such as the oil level, engine, interior, and electrical system to ensure everything is in working order, providing potential buyers with peace of mind.
Why are Used Cars Popular?
In addition to new cars, the used car market in Vietnam is quite active. Many consumers choose to buy used cars for several reasons:
Cost Savings
Used cars are significantly cheaper than new ones. This means buyers can save a considerable amount, sometimes even hundreds of millions of Vietnamese dong, while still owning a desired vehicle. According to business experts, cars lose approximately 20-25% of their value after three years of continuous use.
Lower Ownership Costs
Source: Business Today
Compared to buying a new car, purchasing a used car incurs lower taxes and fees. For example, the first-time registration fee for a new car is 10% of the vehicle’s value. However, for a used car, the fee is only around 2% of the depreciated value at the time of purchase.
Moreover, after the first three years of owning a new car, it can lose up to 20-35% of its original value. At this point, used cars become more stable and their depreciation rate decreases.
Access to Higher Segments
With the same amount of money, customers can purchase a used car in a higher segment compared to buying a new car, allowing for a different driving experience.
Remember, when selling a car, it is important to be well-prepared, advertise effectively, and ensure the vehicle is in good condition. By keeping these factors in mind, families can ensure a successful and profitable sale.
Source: Business Today